Bill > HF3029

This bill provides special tax increment financing (TIF) authority to the city of St. Cloud, allowing the city's economic development authority to establish up to two redevelopment districts in specific areas along the Division Street corridor, within the Central Business District, or Fringe Central District. The bill identifies 22 specific parcels in Stearns and Benton Counties that can be included in these districts, with names like "Lady Slipper Catalyst Site" and "Transit Oriented Development Catalyst Site". Under special rules, these TIF districts are automatically deemed to meet certain legal requirements, are exempt from some standard restrictions, and can use generated tax increments for public infrastructure improvements like parking, streets, and utilities adjacent to the development sites. The authority to approve TIF plans under this special provision expires on December 31, 2031, and the bill becomes effective after the city complies with local government notification requirements. Essentially, this legislation gives St. Cloud more flexible tools to support urban redevelopment in targeted areas by simplifying the tax increment financing process.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF3029&ssn=0&y=2025